Watson group planning new shops

The A.S. Watson Group plans to open 1,400 new outlets globally this year – 60 shops will be in Hong Kong – but it will not expand the electricity group Fortress, says chief operating officer Malina Ngai Man-lin.

The group doesn’t have a plan for an initial public offering for the moment, Ngai added.

Watson plans to invest HK$500 million in the next three years to improve its technology platform as well as enhance big data analysis.

Managing director Dominic Ngai Kai-ming said MoneyBack, a member reward program under the Watson Group, has been rebranded with a new mobile app, which allows member to manage their accounts more conveniently.

The increase in grocery sales and the health and beauty sector were the strongest. Groceries were up 2.3 percent and health 5 percent, driven mainly by domestic consumption.

Jewelry sales fell 44 percent in May, which was below the 2013 level. “Discretionary sectors historically driven by tourist spending continue to be a drag, despite stabilization and some recovery in visitor arrivals in recent months,” the group said.